JPMorgan Chase & Co. Boosts Stock Holdings in SM Energy (NYSE:SM)

JPMorgan Chase & Co. raised its holdings in SM Energy (NYSE:SMGet Rating) by 65.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,776,381 shares of the energy company’s stock after acquiring an additional 705,246 shares during the period. JPMorgan Chase & Co.’s holdings in SM Energy were worth $60,735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SM. SeaCrest Wealth Management LLC bought a new position in shares of SM Energy in the second quarter valued at approximately $34,000. Harvest Fund Management Co. Ltd bought a new position in shares of SM Energy in the first quarter valued at approximately $112,000. Meeder Asset Management Inc. bought a new position in shares of SM Energy in the first quarter valued at approximately $125,000. KBC Group NV boosted its position in shares of SM Energy by 24.6% in the first quarter. KBC Group NV now owns 3,904 shares of the energy company’s stock valued at $152,000 after acquiring an additional 771 shares during the period. Finally, Xponance Inc. lifted its position in SM Energy by 8.1% during the second quarter. Xponance Inc. now owns 6,739 shares of the energy company’s stock valued at $230,000 after purchasing an additional 507 shares during the last quarter. 90.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Julio M. Quintana sold 22,300 shares of SM Energy stock in a transaction on Friday, October 21st. The shares were sold at an average price of $42.79, for a total value of $954,217.00. Following the transaction, the director now directly owns 121,944 shares of the company’s stock, valued at $5,217,983.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Julio M. Quintana sold 22,300 shares of SM Energy stock in a transaction on Friday, October 21st. The shares were sold at an average price of $42.79, for a total value of $954,217.00. Following the transaction, the director now directly owns 121,944 shares of the company’s stock, valued at $5,217,983.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Patrick A. Lytle sold 8,658 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $45.61, for a total transaction of $394,891.38. Following the transaction, the chief accounting officer now directly owns 12,463 shares in the company, valued at $568,437.43. The disclosure for this sale can be found here. Insiders have sold a total of 40,958 shares of company stock valued at $1,811,408 over the last three months. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of SM Energy from a “buy” rating to a “hold” rating in a research report on Monday, November 7th. KeyCorp assumed coverage on shares of SM Energy in a research report on Monday, September 19th. They set an “overweight” rating and a $64.00 target price for the company. Barclays dropped their target price on shares of SM Energy from $51.00 to $46.00 and set an “underweight” rating for the company in a research report on Wednesday, October 19th. Finally, Royal Bank of Canada lifted their target price on shares of SM Energy from $53.00 to $55.00 and gave the company a “sector perform” rating in a research report on Monday, November 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.44.

SM Energy Trading Down 2.0 %

Shares of SM opened at $43.74 on Friday. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 4.25 and a beta of 4.56. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 0.99. SM Energy has a fifty-two week low of $25.23 and a fifty-two week high of $54.97. The firm has a 50 day moving average price of $43.23 and a 200-day moving average price of $41.51.

SM Energy Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, November 7th. Investors of record on Tuesday, October 25th were paid a $0.15 dividend. This represents a dividend yield of 0.7%. This is an increase from SM Energy’s previous Semi-Annual dividend of $0.01. The ex-dividend date of this dividend was Monday, October 24th. SM Energy’s payout ratio is presently 5.83%.

SM Energy Profile

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SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.

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Institutional Ownership by Quarter for SM Energy (NYSE:SM)

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